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In Berks County in 2012, there were 6,258 homes listed for sale for prices of up to $4,999,999, according to data supplied by TREND Multiple Listing Service. Those figures are only for real estate professionals who are a member of the TREND MLS. Houses that were for sale by owner or marketed by independent agents are not included.
Dave Davis, corporate relations executive with TREND’s office in King of Prussia, Montgomery County, also explained those figures could include homes that were listed at one price, the contract the seller had expired, and the home was re-listed at another price in the same year.
The Reading-Berks Association of Realtors joined the TREND MLS in 1999.
The bulk of the listing action was for homes priced $299,999 or less: 5,636 units. At the opposite end of the spectrum, there were 17 homes listed for $1 million to $1,999,999; one home listed for $2 million to $2,999,999; one home listed for $3 million to $3,999,999 and one home listed for $4 million to $4,999,999. No homes were listed for $5 million or more in Berks in 2012.
In terms of sales, there were 3,552 homes listed through TREND that sold in Berks in 2012.
As with the homes listed, the bulk of the sales were for priced $299,999 or under: 3,326 units.
Only one home sold for more than $1 million in Berks in 2012, and none were sold for more than $1,999,999.
Looking ahead
“For 2013, I think we might see some appreciation, finally,” said Peter J. Champagne, president of the Reading-Berks Association of Realtors and broker of record for Keller Williams Realty Elite in Spring Township. “I think our hot spot is going to be that $100,000-to-$200,000 range.”
In 2012, there were 1,631 homes sold for between $100,000 and $199,999 according to the TREND data. It was the highest amount for any $100,000 increment.
“The only thing that would reduce that is not having enough active listings,” Champagne said.
He said that right now there are fewer active listings in that price category than were sold last year. He said the current number would translate to an approximately 10- to 11-month supply.
“I think some of what you saw in that $100,000-to-$200,000 range were investors coming in and buying suburban residential real estate because it was cheap,” Champagne said.
More expensive homes did not see that influx.
“If you take the high end and look at it, you can see there are several years worth of inventory if our sales in that price range would remain constant,” Champagne explained. “I don’t know anything that would change that dramatically.”
Strong December sales figures compared with those in December 2011 are also an indicator of what is to come he said.
“We an had an increase in not only the number of sold properties, but also an increase in the average sales price,” he said. “We’re trending in the right direction.”
The availability of cheap mortgage money, increasing consumer confidence and pent-up demand will drive sales this year, Champagne said.
“I’m looking for a good 2013,” he said. “Maybe not a huge improvement – we do live in Berks County after all. But I’m hoping for maybe a 5 percent increase in both the number of sales and the average sales price.”
Contact Susan E. Miers Smith: 610-371-5048 or ssmith@readingeagle.com.